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Security Type
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Convertible Note
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Categories
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Real Estate
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Min Investment
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$100
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Offering Date
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November 20, 2020
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Expected Close Date
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March 01, 2021
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Target Raise
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$200.00K-$1.00M
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Deal Notes
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Interest: 8%
Discount: 20%
Company Description
We are building one of the first nationwide, scalable, for-profit shared ownership housing in the United States.After the successful launch of Denver projects, in subsequent years we hope to expand into other American cities with similar housing needs, in the South, West, East and North, i.e. Miami, Palo Alto, Boston, and Ann Arbor, building proven designs in a new market each year. In our second year the Company hopes to raise up to $50M to fund the equity portion of these projects, through a Regulation A+ offering. These are forward looking projections and are not guaranteed. Given the Company’s limited operating history, the Company cannot reliably estimate how much revenue it will receive in the future, if any.
Perks
Invest $250+ for Co-Own Co T-Shirt
$5,000+ Future owners can invest their required share down payment here and receive 500 hours of free shared car usage.
Invest $250+ for Co-Own Co T-Shirt
$5,000+ Future owners can invest their required share down payment here and receive 500 hours of free shared car usage.
Key Deal Facts
We are building nationwide, scalable, for-profit shared ownership housing in the United States.
Highly desirable urban infill and university locations
High tech, net-zero energy architecture (3 kWh+ solar array per residence), specifically designed for comfortable co-own
Easy and hassle free onboarding, furniture rental available, professional management, fees cover all utilities and maint
Co-operative shares may be resold at any time, through an exchange on our website, at market rates.
Build equity in highly desirable areas.
On site shared electric cars – live a truly net-zero lifestyle.
We are building single family homes, duplexes, townhouses – we follow all zoning laws – co-ops are legal across the US
Use of Proceeds
$200,000
- Pre-Development costs (architecture and various engineering fees) of 47.5%, Fees (for legal work to set up the Co-Operative and organizational documents) of 18.75%, marketing and selling shares of this co-op house to the public of 14.05%, a deposit on the land of 5%, and financing fees for the construction loan of 7.2%. Additionally Wefunder fees of 7.5%.
$1,000,000
- Fees of 3.125%, Marketing costs of 0.1%, the land towards 74.5%, building permits towards 6.875%, and construction loan costs towards 7.9%. Additionally, Wefunder fees of 7.5%.
Management Team / Advisory Board Bios
Jason Lewiston
President
Real estate developer, broker, and general contractor for 30 years. Built over 1,000 houses and apartments, and served as a broker for hundreds of transactions. Has years of knowledge regarding infill development. Born and raised in the Detroit area.
Dmitrii Zavorotny
Technology Officer
A technology entrepreneur and software developer, has worked as a database developer and data analyst.
Sarah Wells
Director of Sales
Realtor who co-founded a cooperative in 2015. Serves as board President for Boulder Housing Coalition and is on the board for NASCO Development Services.
Chelsea DeFelice
Head of Design
An interior design industry pro with 12 years of design experience. She attended The Art Institute of Colorado, where she studied commercial design.
Raymond Burrasca
Financial Advisor, Attorney
40+ years in corporate finance, private equity (venture capital, angel financing, mezzanine financing), and commercial paper. Expert on Regulation A+ offerings.
Hugh Jeffers
VP of Centennial Mortgage, FHA Loan Expert
25 years in originating FHA loans. Expertise in cooperative housing and board member of the National Association of Housing Cooperatives.
Gosia Kung
Architect
Architect with KTGY. 25 years experience in architecture and urban design. Specializes in “missing middle” and affordable housing policy and design.
Jeff Dawkins
Architect
Extensive experience in infill projects, custom homes, site planning and site design.
Bruce Roberts
Architect
Longtime residential and commercial architect from the Detroit area. Bruce is also a custom furniture maker.
Deal Notes
Interest: 8%
Discount: 20%